Business insurance is an extremely important piece of the overall puzzle of business ownership. Business insurance encompasses all the different types of coverage owners need to protect themselves from losses that could put them underwater financially. This is an important requirement that typically the insurance company must show so they can properly deny coverage.
Most noticeably for small businesses (limited companies and personal service companies) professional cover such as contractor insurance provides quality and cheap protection against the many trials and tribulations that a run in with the tax man can incur.
Some additional coverage aspects include, defense costs (lawyer fees), Employment Practices Liability (regarding employment practices), misrepresentation and misinterpretation, premise and operational liability, product liability, etc. Worker’s compensation is similar to liability insurance, nonetheless it covers your employees versus injuries sustained on the work.
Seeking business interruption insurance may also be helpful as in case of a fire or …